Loan Dashboard
The goal of this project
Improve New10’s “after disbursement” experience. The situation was that users couldn’t easily navigate and, as we are growing, new features need to be added for clients to have a better experience with repaying their loans and mandatory tasks. Also, improve the understanding to decrease calls on Customer Service.
Constraints
The target audience is older than the average for most app users. Also, as New10 is growing in a fast-paced environment, there’s a restriction on the technology for bigger changes.
Roles and Responsibilities
User research
Product design
Interaction design
Technical exploration
Q&A and implementation review
User testing
More context
As the growth of New10 was fast, new features were just being added to the first simple design, without navigation, just adding pages in the best way possible. With more features coming together with the Product Owner we organized the needs of businesses and users to make assumptions to create a prototype.
Value Proposition
Small entrepreneurs are busy running by themselves their business and need help in organizing the bureaucracy of managing their loans. When having a dashboard where they can find easily all in one place will help them and not overload them with those tasks.
User Audience - Persona
At New10 we identified a group of 6 personas for their product and for this project, we tackled only one, the Gut-feeling Gary. This persona was the one that stood out in the research with the main pain point on this part of the flow.
• Feels in control.
• Does everything by himself.
• Has financial knowledge.
He consults his network and might explore several options. In the end makes a decision based on which option ‘feels right, often determined by his interpersonal communications with lenders.
Puts a great value on being understood by the provider, cultivating a trusting relationship, and having the feeling of flexibility and control even after the deal is made.
Interest rates and conditions are secondary to his decision.
What is the problem we are trying to solve?
Payments and bank bureaucracy can be confusing and are not everyday tasks for customers. They only reach out for it when needed and can’t be disconnected. Our customers are struggling to find the right place to do their quarterly and annual bureaucracy and we need to help them to improve the experience after disbursement.
Design hypothesis
After identifying the main problem and analyzing the current situation, I worked on a design hypothesis that would guide us in the user research:
“ We believe that users having specific places to look for information would help them perform their mandatory documentation uploads.”
“ We believe that separating and organizing the data on our dashboard can help users have a better experience and call less customer service.”
“ We believe that by having a strong foundation on the feature for disbursement we can grow into more solid experiences for those customers.”
Current Situation
Drafts and team discussion
As the dashboard touches a lot of parts of the flow, we had sessions to discuss what would be the best approach to solve it in a way that the change wouldn't impact much or we could improve it. We discussed and the goal was to produce a prototype to be tested with at least 10 customers.
User Research
A prototype was created with some assumptions and user testing was done, together with some qualitative research. The biggest assumption was regarding new navigation, more clear and simple with the direct links to the tasks. Also, we wanted to test how clear we were with the new navigation for clients to find simple things like the contract in order to decrease calls to Customer Service.
Data from Google Analytics, Hotjar, and the customer service team were used to create the assumptions:
• 60% of customers were visiting the dashboard for the financing follow-up. Most of them are clients from the product that you need to visit to withdraw the money.
• 50% of customers were up to date with the document upload. This is mandatory due to ECB requirements.
• 10% of total visitors were reaching out to the profile page for a change of e-mail and phone. This was the most asked question in calls from customer service for that part of the customer journey.
• 20% of total visitors were reaching out to the "Financing Details" page for the contract download. This was one of the top requests from CS in calls.
Solutions and improvements
New Navigation
Customers can have a more organized view of their loans.
Clients can check their loans and perform required actions and find them easily. In the research, it was found that when customers see the direct relation with the action, they do it easily.
Design System Update
A fresh new look and scalabe
The old dashboard had the same look as it was on the first release of the product. Aligning with the Design System gives credibility to customers. Also helps the development team in order to build new features faster.
Improvements for tagging pages
Now we can see what our users are looking for.
In the current version, everything was in one place. If a user needed to change their email, it was in the same place as to upload regulatory documents. With the new dashboard, the actions for each page can be mapped and have experienced improvement.
Increase customer satisfaction
Let's make our customers promoters!
The dashboard is present in the whole customer journey on different levels and it was important to maintain some parts of the customer journey untouched.
Customers saw the improvement when they “became clients” and were satisfied with the improvement.
Results
First 3 months' results:
• 30% increase in document uploads.
• 15% fewer calls in Customer service.
• 10% more visitors on the dashboard.
Suggested next steps
The new dashboard has room and usability to accommodate the features on the roadmap for this and the following year.
The feedback from the customer team was more positive than expected and from their perspective, it was an excellent improvement. The next step is to capture more data to improve the small parts of the flow and some patterns, as the most significant action was already taken.
A work ongoing is the complete mobile experience for it, as some parts are not 100% responsive due to some constraints.